Centerra Gold climbs on Mount Mulligan life extension, buyback

Centerra Gold

04/10/2022 17:57

** Shares of Centerra Gold  CG.TO  climb 11.5% to C$6.97
    ** Shares on track of their best day since May 2021
    ** Centerra says it extended its Canadian Mount Milligan
mine life by over four years, extending open pit mining and
milling operations to 2033
    ** CG says proven and probable gold reserves of the mine
increased by 1.1 mln contained ounces and copper mineral
reserves by 260 mln contained pounds; Mount Milligan mine
deposit contains mineral reserves totaling 246.2 mln tonnes at
0.37 grams/tonne gold and 0.18% copper
    ** Centerra intends to proceed with a normal course issuer
bid to buy for cancellation up to an aggregate of 15.61 mln
common shares representing 10% of company's public float
    ** CG down 28.5% so far this year
 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94))